Metal Nrg Plc is listed on the London Stock Exchange, it is an investment company focused on natural resources with a particular focus on precious and strategic metals. The company’s strategy is to invest in projects that offer the opportunity to deliver short term cashflow while offering exploration upside for the medium to long term.
MNRG currently has interests in three projects, in early stage exploration in Australia (100% owned), a uranium project with a mining license in the Republic of Kyrgyz (we hold an option to own 51%) currently on hold awaiting clarification on the governments proposed mining ban for uranium, and the Gold Ridge Project in Arizona USA, which is our main focus.
The Gold Ridge Project encompasses three historical gold mines in Arizona, Gold Prince, Gold Ridge and Dives mines over a 1.8km strike within prospective 5km long vein swarm. Steeply dipping high-grade gold bearing quartz-sulphide veins hosted within a Tertiary plutonic-volcanic centre on the 32km long Apache Pass regional shear zone. The mineralogy and grade within the Gold Prince veins was consistent over a 180m mined vertical interval. Gold Prince mine historical production was approximately 22,000 oz through to 1996. We are currently working on seeking ways to monitse waste dumps and pillars left behind by previous operators.
The company said the ultra high grade sample indicated the potential for more high grade gold at the site, which could serve as a "significant and relatively near term revenue opportunity”